QUARTERLY RESULTS (UNAUDITED) (Tables)

12 Months Ended

Jul. 02, 2022

Quarterly Financial Data [Abstract]

Schedule of quarterly results (unaudited)

Financial information for each quarter in the fiscal year ended July 2, 2022 is set forth below.

	Fiscal 2022 Quarter Ended
	October 2		January 1 (1)		April 2		July 2		Fiscal Year
	(In thousands except for per share data)
Sales	$	16,456,546	$	16,320,203	$	16,902,139	$	18,957,258	$	68,636,146
Cost of sales	13,484,838		13,429,053		13,888,745		15,512,986		56,315,622
Gross profit	2,971,708		2,891,150		3,013,394		3,444,272		12,320,524
Operating expenses	2,340,026		2,446,241		2,517,665		2,677,557		9,981,489
Operating income	631,682		444,909		495,729		766,715		2,339,035
Interest expense	128,214		242,899		124,018		128,512		623,643
Other income, net	(3,252)		(10,676)		(13,777)		(3,676)		(31,381)
Earnings before income taxes	506,720		212,686		385,488		641,879		1,746,773
Income tax expense	128,707		45,245		82,163		131,890		388,005
Net earnings	$	378,013	$	167,441	$	303,325	$	509,989	$	1,358,768
Per share:
Basic net earnings (2)	$	0.74	$	0.33	$	0.60	$	1.00	$	2.66
Diluted net earnings (2)	0.73		0.33		0.59		0.99		2.64
Dividends declared	0.47		0.47		0.47		0.49		1.90

(1)	Sysco’s second quarter of fiscal 2022 included a charge for $115.6 million in interest expense related to the redemption of senior notes. See footnote 12 “Debt and Other Financial Arrangements.”
(2)	Quarterly basic and diluted earnings per share amounts may not add up to the full fiscal year total presented due to rounding. Basic and diluted earnings per share are calculated by dividing net earnings by basic and diluted shares outstanding, respectively.